Spanish insurer launches Maltese subsidiary of Mapfre Assistencia.
Middlesea Assist is the result of a joint venture between Mapfre Assistencia and Mapfre Internacional's direct insurance company operating in the country.
Middlesea Assist offers roadside and home assistance services in the country. It will also support Middlesea Insurance's activity and extend its suite of products with GAP, Mechanical Breakdown Warranty and PPI, among other products.
Mapfre Assistencia is the subsidiary of Spanish insurer Mapfre that specialises in assistance and specialty risks.
The smallest of the European Union's member states, Malta is emerging as one of the fastest growing financial services centres.
Speaking last month at a Mapfre meeting in Madrid, Javier Fernández-Cid, a director on Middlesea's board, called the islands "strategically important".
"It is part of the EU, is english speaking and operates in euros," he explained.
He also mentioned the favourable regulatory environment for captives.
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